Linda,
At 24 fps with shutter off, the exposure is 1/24th of a second, with shutter on at 180 degrees it’s 1/48th of a second, effectively one stop difference. The Varicam allows you to describe the shutter speed either as a fraction of a second (like a still camera) or in degrees, which is the normal method used in a cine camera. They do this to add a comfort factor for film guys using HD cameras as replacement for their motion picture camera, and who are used to descibing shutter settings this way.
At different frame rates, both the fractional shutter speed and the speed measured in degrees of shutter result in different numbers. The manual presumes you understand either or both concepts, and merely ennuciates the procedures involved in setting the required speed. For example at 60 fps, the wide open (or shutter off) setting would be 1/60th or a second, with the shutter on and set at 180 degrees it would be 1/120th of a second.
While most film cameras use 180 degrees, some use a slightly wider shutter, such as 210 degrees. This increases both the blurred effect of each frame and opens the exposure another little bit. You might try this setting as an alternative for a film look.
JS